Lean Hog Futures: Mixed Day, Export Sales Drop

Lean hog futures experienced a volatile day on Tuesday, with some contracts surging by forty-five cents while others plummeted by twenty cents. The national base hog price stood at seventy-three dollars and twenty-five cents, according to the USDA. The CME Lean Hog Index continued its downward trend, dropping another one dollar and twenty cents to eighty-three dollars and sixty-one cents.Pork export sales for the week ending October ninth hit a four-week low, with bookings totaling two hundred eighty-eight thousand, six hundred seventy-six metric tons. Export shipments also decreased from the previous week, coming in at twenty-eight thousand, five hundred six metric tons.Managed money investors reduced their net long positions by twelve thousand, three hundred twelve contracts, settling at twenty-eight thousand, nine hundred twenty-eight contracts as of Tuesday. The USDAs pork carcass cutout value also dipped, falling one dollar and fifty-three cents to ninety-three dollars and twenty-five cents per hundredweight.Federally inspected hog slaughter for Tuesday was estimated at four hundred ninety-two thousand head, bringing the weekly total to nine hundred eighty-seven thousand head, a thousand head lower than last week but up by two thousand, one hundred ninety-two head compared to the same week last year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.